This English translation of “2022 Annual Report” of the Institute of Actuaries of Japan is
an unofficial translation. Only its original Japanese texts have effect, and the translation is
to be used solely as reference material to aid in the understanding of the original one.
この「2022 年度事業報告」の翻訳は公定訳ではありません。効力を有するのは日本語の資料であり、翻訳はあくまでその理解を助けるための参考資料です。

2022Annual Report
From April 1, 2022 to March 31, 2023

1. Matters concerning Annual General Meeting of Members
The General Meeting of Members was held on June 22, 2022 at the main conference room of the Instituteof Actuaries of Japan, and“Report on a summary of business activities in 2021”
was presented, and the following two proposals were put before the meeting and approved as
proposed:
Item 1: 2021 Approval of a Balance Sheet and Net Assets Variation Statement as well as
Inventory of Properties<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, members were restrained from visiting
the general meeting venue, while the Bill was posted on the members-only page of our website andproxy voting by means of an electromagnetic method was recommended. By encouraging the use of
proxy voting, we have implemented operations that allow members to exercise their voting rights evenin the situation of COVID-19 pandemic. (The number of voting rights exercisers was 3,991, of which
3,871 were by means of an electromagnetic method.)

2. Movement of members
Movements of members during the current year were as follows: for corporate members, 1 member
withdrew from the IAJ; for individual members, 247 members were newly admitted, and 180 members
withdrew from the IAJ. The number of members as of the end of March 2023 is as shown in the tablebelow.
Fellows
Associates
Students
Semi-total
Corporate members
Total

2,056
1,438
2,070
5,564
107
5,671

3. Business report[A. Related to examination](A1) Implementation of qualification examination1

persons
persons
persons
persons
corporations
persons/corporations

A 5-day qualification examination was held from December 12 to 16, 2022 by CBT (Computer
Based Testing) method, and the successful examinees were announced on February 24, 2023. In
addition, from the 2022 qualification examination, we shifted from a paper-based examination
method to a CBT method and expand the examination venues to cities other than Tokyo and Osaka
to improve convenience for examinees. The total number of examination subjects for the primary
examination was 2,704 subjects and the total number of subjects passed was 624 subjects. There
were 127 examinees who passed all basic subjects. ※127 examinees includes additional successful
applicants in mathematics due to a correction to an examination question made on May 11, 2023.
Mathematics

Life Insurance
Mathematics

Non-life
Insurance
Mathematics

PensionMathematics

Accounting,Economics andInvestment
TheoryNumber of examinees

767

482

512

369

574

Number of successful examinees

108

95

110

123

188

Passing Rates

14.1％

19.7％

21.5％

33.3％

32.8％

Primary examination（Basic subjects）

The total number of examination subjects for the secondary examination was 1,074 subjects and thetotal number of subjects passed was 153 subjects. There were 64 examinees who passed all thesubjects.
Secondary examination（Advanced subject）

Life Insurance
１

Life Insurance２

Number of examinees

361

323

144

105

72

69

Number of successful
examinees

52

51

22

11

5

12

14.4％

15.8％

15.3％

10.5％

6.9％

17.4％

Passing Rates

Non-life
Insurance１

Non-life
Insurance２

Pension１

Pension２<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, we implemented infection prevention
measures such as body temperature inspections at the examination venue and also requested
examinees to take preventive measures, etc.
(A2) Implementation of CERA examination
The CERA examination in Japan is based on the SP9 (Enterprise Risk Management, Specialist
Principles) of Institute and Faculty of Actuaries (IFoA). The IAJ implemented CERA examination
on September 23, 2022, utilizing IFoA online platform in line with the IFoA online examination of
SP9 in September 2022. The successful examinees were announced on January 11, 2023. There
were 36 examinees, and 13 examinees passed the examination (Passing Rates 36.1 %). As the new
CERA certifications were granted to 14 individuals, the number of CERA-qualified members at theend of March 2023 was 119.
(A3) Revision of textbooks
In February 2023, “Non-life Insurance” textbooks were respectively revised to reflect errata as well
as reviews from current perspective, and “Pension” textbooks one to four out of five books wererevised to reflect the revisions of the Defined Benefit Corporate Pension Act and the DefinedContribution Pension Act.

[B. Related to education, training, and research presentation](B1) Implementation of actuary courses
2

The actuary courses were offered for a period from May 11, 2022 to October 31, 2022. Details are
as follows.
Subject
Number of
students
・Probability, Statistics, Probability Exercise, Statistics
Basic courses
As shown（6 Groups）
Exercise (67 people)
on the left・Modeling (71 people)
・Life Insurance Mathematics, Life table (84 people)
・Non-life Insurance Mathematics (97 people)
・Pension Mathematics (83 people)
・Accounting, Economics, Investment Theory (100 people)
・Risk Selection Theory
Intermediate・Social Insurance Theory
28 people
courses
・Population Theory
・Insurance Supervision Law（7 Subjects） ・Pension Practice Regulations
・Risk Management Theory
・Finance Mathematics
The additional actuary exercise courses were offered for a period from September 14, 2022 toNovember 25, 2022. Details are as follows.
Subject (Number of students)

Number of
students

Additional actuary

・Life Insurance Mathematics Exercise（23 people）

As shown

exercise courses

・Non-life Insurance Mathematics Exercise（32on the left

(4 Subjects)

people）
・Pension Mathematics Exercise（19 people）
・Modeling Exercise（21 people）

A specialized actuary course (ERM) was held and offered for the purpose of learning specialized
knowledge and skills related to ERM, for the period of July 25, 2022 to September 13, 2022. Details
are as follows:
ERM course(3 Subjects)

Subject・Finance Mathematics （*）
・Risk Management Theory （*）
・ERM(*) Subjects common to Intermediate courses

Number of students
19 people

A specialized actuary course (Data Science) was held and offered for the purpose of acquiring
specialized knowledge and skills related to data science through practical training, for the period of
November 30, 2022 to March 18, 2023. On-demand lecture, in which trainees can view the videos
during the period (from February 6, 2023 to April 16, 2023), was held. Details are as follows:
Number ofContent
students
Data Science <First part><Second part>
14 people
course・Introduction of R and simple ・Basic procedure for Predictive(First/Second
Regression Model
Modeling
・Linear Regression Model
・Exploratory Data Analysis
parts)(EDA)
・Linear Discriminant Analysis
・Decision Tree
・Example model for Predictive
・Generalized Linear Model 1
Modeling
・Generalized Linear Model 2
3

・Basics of survival analysis

On-demand
lecture・Model selection and Modelevaluation method
・Practice in Regression Model(GW)・Practice in Classification
Model (GW)・ Principal component analysis/Basics of Factor Analysis<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, all courses were implemented online.
In addition, recorded videos of lectures were available for participants who were unable to attend
the lectures, and the delivery period was extended to about two weeks this fiscal year.
(B2) Holding of Annual Meeting
From the perspective of curbing the spread of COVID-19, basically, in an online format, some
programs including the opening ceremony and special lectures were held on November 4, 2022, ina hybrid format for the with/post COVID-19 society, allowing participants to attend at the venue(MY Plaza Hall). The program of the day was as follows.
・Opening Ceremony (Address from the president, Congratulatory Address, Awards for Excellent
Papers)・Special Lecture (Shogi in the AI Age, by Mr. Yoshiharu Habu, Shogi player)
・Presentations (About ICA2023 Sydney - Towards ICA2026 Tokyo - Mr. Andrew Boal (Chair of
the ICA2023 Organizing Committee ), Mr. Hiroshi Shoji (Chair of the ICA2026 Organizing
Committee )・Presentation of papers / Presentation / Panel discussion / Open Discussion Forum
In total,12 papers were presented, 8 presentations and 4 panel discussions and 11 discussion/ forums
in English were held. The streamed videos were posted on the e-learning system after the annual
meeting and can be viewed again on- demand.
(B3) Holding of IT Annual Meeting
From the perspective of curbing the spread of COVID-19, the 62nd IT Annual Meeting was held
online on February 17, 2023, by posting the documents ( introduction of new technologies by thetechnology group) on the dedicated website for IT Annual Meeting and distributing videos (activity
reports by the IT research groups (1st to 5th groups)). The videos were available for a certain
period on e-learning and YouTube (limited distribution).
(B4) Holding of regular meetings
We held the following regular meetings in FY2022. Details are as follows.
1st
Current status of climate change and
Mr. Chris Falkous
May 27, 2022
its impact on life insurance(Vice President & Senior[ Life Insurance]
Biometric and Insight Actuary,
RGA Reinsurance Company)
Ms. Georgiana WillwerthPascutiu

4

(Vice President & Global
Medical Director, RGA
International Corporation)
2
Sep. 7, 2022
[Life Insurance]nd

3rd
Oct.21, 2022
[Others]

4th

Nov. 9, 2022
[ Life Insurance]

5th

Dec. 2, 2022
[Others]

6th
Dec. 23, 2022
[ Professionalism]
7th
Jan. 27, 2023
[Data Science]

8th
Feb. 28, 2023
[Data Science]Video rebroadcast: Jun. 10
Managing the disability risk –Datapools and the new German Disability
Income (DI) standard table
Video rebroadcast: Sep.21
Introduction to Agility for Actuarial
Teams

Video rebroadcast: Nov.7
Challenges and solutions in assessing
cancer risk –an insight into latest
medical advancements and technicalassessment

Dr. Andreas Heider(Senior Actuary, Gen Re)

Mr. Al Mele(The Global Head of Agility for
SCOR)
Ms. Jennifer Nusbaum(The Head of Agile Coachingfor SCOR's Americas offices)
Mr. Sidharth Sadani（Senior Data Scientist)
Mr. Dan Delany(Assistant Vice President,
Actuary - Pricing)
Dr. Andreas Armuss(Chief Medical Officer, Munich
Re, Singapore Branch)

Video rebroadcast: None
Current Status and Future Direction to Mr. Takashi Kanbe
aim for of Financial Literacy(President, FP Associates &Education
Consulting K.K.)
Co-organized with The JapaneseSociety of Certified Pension Actuaries
Video rebroadcast: None
※Co-organized with Professionalism Training (Continuing Education)(See (B9))
Video rebroadcast: Jan.13
Statistics in pandemics

Video rebroadcast: None
Application of Machine Learning toInsurance Practice - Past, Present, andFuture5

Dr. Daisuke Yoneoka(Director, Center for
Surveillance, Immunization, andEpidemiologic Research,
National Institute of Infectious
Diseases)
Mr. Neil Chapman(Global Deputy Head of Pricing,
Product, Claims andUnderwriting (PPCU), Willis
Towers Watson)

Mr. Tsuyoshi Yamada(Willis Towers Watson)

9thMar. 16 2023
[ Life Insurance]

Video rebroadcast : Mar. 14
Long COVID - a Challenge for Life &Health - Long COVID Life Insurance
Challenge?

Dr. Gabriele Teichmann(Group Medical Officer andGeneral Manager, Life Risk
Assessment, Hannover Re
Group)

Video rebroadcast: Mar. 30<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, all regular meetings were held online. In
addition, we rebroadcasted the recorded contents for members who had difficulty participating on
the day.
(B5) Holding of Kansai Committee regular meetings
From the perspective of curbing the spread of COVID-19, Kansai Committee regular meetings
were held online on March 8, 2023. In addition, for those who were unable to participate on the
day of the meeting, the recorded video was rebroadcasted on March 15.
(Mar. 8 , 2023)[Life Insurance, Pension,
Risk Management]

2022 Report on Activities of KansaiCommittee’s Sub-committees

Insurance Accounting subcommittee
Pension sub-committee
ERM sub-committee

Video rebroadcast: Mar.15(B6) Holding of moonlight seminars
From the perspective of curbing the spread of COVID-19, Moonlight seminars were held online
under the following 4 themes from December 2022 to February 2023.
Let's consider qualitatively and quantitatively
based on "Tentative Decision on the BasicContent of Economic Value-Based Solvency
Regulations, etc."
Let's learn about anomaly detection
Interpretable Machine Learning
Application and Programming in Actuarial
Practice

Atsushi Okawa(Milliman)

Ryo Miyazaki(Tohmatsu LLC)
Hirokazu Iwasawa and Member of Data Science
Related Basic Research WG (IML Team)
Kazuki Aoyama(CLIMB Actuarial Office, LLC)

(B7) Holding of Kansai Committee seminars
From the perspective of curbing the spread of COVID-19, Kansai Committee seminars were held
online on February 15, 2023, with the following themes.

6

A Study on Insurance Product Market Competition Based on
Random Utility Theory
 Consideration of Reinsurance and Capital Requirements for Nonlife insurance Business Model Using Real Option Method
 Consideration of optimal portfolio allocation by CAPM
incorporating Green Factor
 Differences in risk and return associated with changes in surrender
rates between traditional and low/no surrender-type products
 A Study on Risk Analysis by Group Size of Life Insurance Policies
and Risk Assessment of Dividend-Paying Life Insurance Products
Applying Bankruptcy Theory Model

Graduate School of Science,
Kyoto University,
Insurance Mathematics
Seminar students(B8) Enhancement of e-learning
E-learning contents under the following were released.













IAA Risk Book Chapter 18 (Policyholder Behavior and Management Actions)
IAA Risk Book Chapter 19 (Stress Testing)
Professionalism Training (Continuing Professional Development) 2021
2020 Regular Meeting:– professionalism training/ the Dilemma of In-house Actuary (3rd) * Video distribution– The Power of Data Science to Predict Future Health (6th) * Video distribution– “Remote Work in the New Normal” “The Next Wave of the Insurance Industry,
Scenarios, and Strategies - The Impact of COVID-19” (7th) * Video distribution
2020 Annual Meeting–
Wearables x Data Science － Application to Insurance * Video distribution– Climate Change for Actuaries * Video distribution– 【ASTIN-Related study group】 Recent Trends in Non-life Insurance Mathematics as
Seen in SOA Texts * Video distribution– Introduction of Overseas Pensions (Germany and Australia) and Implications for Japan* Video distribution– Mathematical Modeling of Infectious Diseases and COVID-19 * Video distribution
Report of 2020 Open Discussion Forum:– ①AI & Data Science * Video distribution– ②COVID-19 * Video distribution– ③ICS、IFRS17 and Regulation * Video distribution– ④Asian countries‘ microinsurance * Video distribution
IT Annual Meeting– “Digital Driven IT Technology and the Transformation of Insurance Company
Operations through COVID-19”
2021 Regular Meeting:– “Medical findings and future trends to overcome COVID-19” “The Impact of COVID19 on Global Life Insurance Products - What Changes Will Take Hold in the PostCorona Era?” (1st) * Video distribution– “Recent developments on the European private annuity market and practices on
mortality data analysis related to longevity risk” (2nd) * Video distribution– “Theory and practice of fixed income investment looking ahead for the post-COVID”(3rd)– “The Science of Behavior - The Moment of Data Generation” (4th)– “The Practice of Writing English Papers” (5th)7––“(Part 1) Impact of Climate Change on Life and Health Insurance/(Part 2) Assessing
the Impact of Physical Climate Change Risk on Non-Life Reinsurance” (7th)“EBPM and real-world policymaking” (8th)(B9) Implementation of professionalism training① On December 23, 2022, professionalism training (Continuing Professional Development)
covering the following training was offered.
(Video rebroadcast: Jan.13, 2023)
 Thinking about Life-Prolonging Medical
Care - Living with Artificial Hydration
and Nutritional Supplementation
Methods

Kaoruko Aita (Project Professor, Uehiro
Division for Death and Life Studies andPractical Ethics, Graduate School of
Humanities and Sociology, The Universityof Tokyo)② On March 10, 2023, professionalism training covering the following training was offered.
The completion of this training is required to be approved as a Fellow.
 Actuaries and Professionalism
 Code of Professional Conduct of theInstitute of Actuaries of Japan
 Professionalism in Life Insurance Professionalism in Non-life Insurance Professionalism in Pension
 Case studies

Ikuo Katayose (Resona Bank)
Jun Miyamoto (The Dai-ichi Frontier Life
Insurance)
Hitoshi Watanabe (Nippon Life Insurance)
Hiromi Kaneko (Sompo Japan Insurance)
Akihiro Hotta (Tohmatsu LLC)
Akihito Sakakibara (Resona Bank)<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, all trainings were held online.
(B10) Implementation of Specific Area training (Initial Education)
Specific Area training (initial education) was held from March 13 to 16, 2023. The completionof this training will be required for certification of fellow membership from FY2024.
March 13, 2023
Financial System
Mr. Tomohiko Takahashi(Professor, Faculty of Political Scienceand Economics, Takushoku University)
March 14, 2023
Actuarial Risk Management
Mr. Yosuke Fujisawa(SUMITOMO LIFE INSURANCECOMPANY )March 15, 2023/ Data and Systems
Mr. Hirokazu Iwasawa
March 16, 2023
(Visiting professor, School ofCommerce, Waseda University)(B11) Implementation of CERA training
On January 21, 2023, a group workshop was held for successful examinees for CERA examination.
The workshop contained lectures on ERM, such as the specific situation in Japan and the casestudies. The completion of this training is required to be approved as CERA qualification and 10
participants completed the training.
(B12) Implementation of Research meeting
The 2022 Research Meeting was held on February 25, 2023, to deepen the discussion of papers bymembers, researchers, graduate students, and others on advanced research topics in line with thetheme of the meeting. The program was composed of broadening interest in papers to be presented
at the 2026 ICA Tokyo Meeting through peer reviews of papers to be presented at the 2023 ICA
Sydney Meeting.
8[C. Related to investigation and research activities](C1) Holding of Standard Mortality Advisory Committee meeting
At the 28th Standard Mortality Advisory Committee meeting held on November 16, 2022, it wasapproved to continue to use in the year 2023 the “Life Insurance Standard Life Table 2018 (fordeath)”, “Third Sector Standard Life Table 2018”and “Life Insurance Standard Life Table 2007 (forannuity)”.
(C2) Development of Standards of Practice
In March 2023, the "Standards of Practice for Life Insurance Company Actuaries" and the"Commentary to the Standards of Practice for Life Insurance Company Actuaries" were revised asnecessary in order to accommodate the new standard policy reserve system for foreign currencydenominated insurance.
(C3) Response to economic value-based solvency regulations and accounting standards, etc.
① In response to the "Tentative Decision on economic value-based solvency regulations, etc."
released by the FSA in June 2022, the FSA and the IAJ are considering guidance and othermatters that are positioned to be studied in cooperation with the FSA.
② In response to the addition of "MOCE" and "insurance liabilities that can be replicated byasset portfolios" to the items in the "Insurance Liability Validation Report" in the "Field Teston the Economic Value-Based Valuation and Supervisory Method" presented by FSA, the"Guideline for the Verification of Insurance Liabilities Report" and "Background of the
Guideline" were revised and published on the public website in March 2023.
(C4) Review of actuarial science for Life Insurance Product
In March 2023, Life Insurance Product Special Review WG members held a round table discussion
in online format on the theme of “Actuarial science for life insurance products whose benefit eventsare linked to public health care plans or other health care plans (e.g., assumed morbidity rates)”,“Actuarial science for life insurance products for the elderly (assumed mortality rates, assumed
morbidity rates, etc.)”(C5) Response to international accounting standards and international insurance regulation
With respect to international accounting standards and international standards for insurance
supervision, the IAJ responded through active participation in the committee activities of theInternational Actuarial Association (IAA). The IAA, as an international actuarial professional
association, has partnership agreements with the IASB and the International Association of
Insurance Supervisors (IAIS) to provide advice on actuarial matters in connection with theirdeliberations.
(C6) Work for the revision of IAA educational syllabus① Taking into consideration that the revised IAA educational syllabus will take effect in 2021,
the Examination and Education Planning Committee and its PTs are discussing how to deal
with the future examination and education system of the IAJ.
② As a short-term response to the 2017 IAA Education Syllabus, the initial training in the threeareas of "Financial Systems", "Data and Systems", and "Actuarial Risk Management"(collectively referred to as "Specific Area Training (Initial Education)") was held from March
13 to 16, 2023. （Reference to (B10).）9

(C7) Efforts to exercise the functions of the Appointed Actuaries of the Small amount and Short-term
Insurance Companies
The Small Amount and Short-Term Insurance Actuarial Practice Guide, etc., was prepared by the
Small Amount and Short Term Insurance Actuarial Study PT as a reference document for thepractice of small amount and short term insurance actuary (small and short-term actuary), afterorganizing the remaining issues in the interim report compiled in FY2021, and was explained andheard at the opinion exchange meeting of small and short-term insurance actuaries held by theSociety in February 2023. The opinions of the small and short-term actuaries were reflected in the
Practical Guide for Small Amount and Short-Term Insurance Actuarial Practice Guide, etc. andpublished for members in March 2023.
(C8) Activities of Committees
Each committee, division, study group, working group and project team carried out investigations,research and other activities based on the purpose and mission set at the beginning of the fiscal year.
The status of their activities was posted on the IAJ’ web sites. The activities that were put together
into investigation and research results were published on the IAJ’s member-only web page and/orin supplementary volumes of bulletins, etc.
(C9) Climate Change Risk and Sustainability Initiatives① Considering the IAA and overseas actuarial associations' increased activities on climate-related
risk and sustainability, and the recent focus on risk management of Japanese financial
institutions, we discussed the future policy of the Society's efforts.
② It was decided to establish a Climate Change and Sustainability Study Group in March 2023 tocollect information and conduct research and studies on Risks related to climate change andsustainability.

[D. Expression of Opinions](D1) Voting at IAA Council (including electronic voting)① In May 2022, voted for the approval of the revision of the Education Guidelines, the 2021
financial statements, and the appointment of a chairman for vacancies, etc, at the IAA Council
meeting (a hybrid of Brussels and online).
② In July 2022, voted for the approval of the Statement on Ukraine.
③ In October 2022, voted for the approval of all proposals at the IAA Council Meeting (a hybridof Montreal and online).
④ In December 2022, voted for the approval of the IAA electronic voting (Associate Membership
Policy and revisions of SPC Protocol) and abstained from voting on revisions of the internal
regulations.

[E. Related to International Activities](E1) IAA activities
The IAJ sends committee members to IAA and actively participates in the activities of IAA
committees. In addition, as in FY2021, the IAJ appointed observers to the IAA Virtual Forum fora term ending in FY2022, with the aim of increasing opportunities for fellows to participate in the
IAA activities in anticipation of ICA 2026.

10

＜Members dispatched to the Committee＞
Actuarial Standards Committee
Toshihiro Kono (Individual)
Strategic Planning Committee
Masaaki Yoshimura (Milliman)
Advance Committee
Masaaki Yoshimura (Milliman)
Membership Committee
Tomio Murata (Taiju Life Insurance)
Professionalism Committee
Masaaki Yoshimura (Milliman)
Education Committee
Yosuke Fujisawa (Sumitomo Life Insurance)
Advice & Assistance Committee
Kenji Sekine (Marsh)
Insurance Accounting Committee
Yoshio Nakamura (Sumitomo Life Insurance)
Insurance Regulation Committee
Masaaki Shigehara(The Dai-ichi Life Research Institute)Pensions Accounting Committee
Kenji Sekine (Marsh)＜Members dispatched to the Forum＞
Pensions, Benefits and Social Security Forum Kenji Sekine (Marsh)
Yuichi Nishii (The Dai-ichi Life Insurance)*Observer
Social Security Subgroup
Nobuhiro Shimizu (the Federation of Japanese
Consumer Cooperatives)
Kenji Kusakabe (Mizuho Trust) *ObserverEnterprise & Financial Risk Forum
Yosuke Fujisawa(Sumitomo Life Insurance) *Vice-Chair
Shinichiro Cho(Meiji Yasuda Life Insurance) *Observer
Wataru Hirose(Fukoku Mutual Life Insurance) *Observer
General Insurance Forum
Ryutaro Yamada (Guy Carpenter)*Vice-Chair
Kaoru Shiojima(Aioi Nissay Dowa Insurance) *Observer
Data Analytics Virtual Forum
Ryutaro Yamada (Guy Carpenter)
Shoma Tanigawa(Meiji Yasuda Life Insurance) *Observer
Yutaka Shoji(Fukoku Mutual Life Insurance) *Observer
Inclusive Insurance Virtual ForumKenji Sekine (Marsh)
Mortality Virtual Forum
Kentaro Katsuno(Sumitomo Life Insurance)
Hiroaki Yokoi(Asahi Mutual Life Insurance) *Observer
Takayuki Nagashima (Taiyo Life Insurance)*Observer＜Members dispatched to the section＞
AFIR/ERM
Naoki Sunamoto (Fukoku Mutual Life Insurance)
Miwaka Yamashita (Tokai Tokyo Financial Holdings)
ASTIN
Miyuki Ebisaki (Tohmatsu LLC)
IAALS (LIFE)
Takuro Sorihashi (Hannover Rück SE)
PBSS
Nobuhiro Shimizu (the Federation of Japanese Consumer
Cooperatives)11(E2) Cancellation of Actuarial Seminar of East Asia (ASEA) in 2022
From the perspective of curbing the spread of COVID-19, Actuarial Seminar of East Asia (ASEA)
in 2022 was cancelled.
(E3) Dispatch of members to international conferences, etc.
Due to the spread of COVID-19, the conference is being held in a hybrid format of in-person andonline.
①

From May 4 to 8, 2022
IAA Conference (in Brussels, Belgium)
Yasushi Ueda, Tomio Murata (Virtual), Masaaki Yoshimura, Nobuhiro Shimizu, Toshihiro
Kawano (Virtual), Masaaki Shigehara (Virtual), Yoshio Nakamura (Virtual), Ryutaro Yamada,
Yosuke Fujisawa, Kenji Sekine (Virtual), Yuzo Tomimura②

From October 14 to 16, 2022
IAA Conference (in Montreal, Canada)
Yasushi Ueda, Tomio Murata, Masaaki Yoshimura, Toshihiro Kawano (Virtual), Masaaki
Shigehara (Virtual), Yoshio Nakamura (Virtual), Yuzo Tomimura(E4) Initiatives for ICA 2026
In addition to determining the conference operator, the ICA2026 Preparatory Committee wasreorganized into the ICA2026 Organizing Committee to improve readiness. The IAJ is
preparing for the promotion of Tokyo and for the baton-passing event at ICA2023 Sydney.
(E5) Participation in Convention A session
Participated in the session at Convention A (an open convention jointly organized online by theEuropean Actuarial Academy (EAA) and actuview) from September 19 to 23, 2022, with thetheme of “What should actuaries do now – with a focus on data science”, the results of the Data
Science Related Basic Research WG were presented.
[F. Advisory Committee](F1) The 34th Advisory Committee meeting was held on March 1, 2023 , where summary of businessactivities in 2022, business plan in 2023 (draft) and the number of Examinees for the Actuarial
Qualification Examination were discussed.

[G. Academic Activities](G1) Upon request of Kyoto University to send lecturers for insurance mathematics and pension
mathematics lectures, Jun Asano (Sumitomo Life Insurance), Hiroyuki Saito (Sumitomo Life
Insurance), Yoshio Nakamura (Sumitomo Life Insurance), Ikuo Katayose (Resona Bank),
Yoshihiko Tsuji (Daido Life Insurance), Takeshi Toyodome (Nippon Life Insurance), Muneyuki
Yamauchi (Nippon Life Insurance) and Yuji Yanagido (Nippon Life Insurance) were sent to the
University.
(G2) Upon request of Osaka University to send lecturers for insurance mathematics lectures,
Akihiko Sasada (Sumitomo Life Insurance), Masaki Takemura (Daido Life Insurance) and Yuji
Yanagido (Nippon Life Insurance) were sent to the University.
(G3) Upon request of Kobe University to send lecturers for insurance mathematics lectures, Koji
Matsumoto (Sumitomo Life Insurance) was sent to the University.
12(G4) Upon request of Waseda University to send lecturers for insurance mathematics, pension
mathematics, the theory and practice of general insurance, and Professionalism, Yoshiki Adachi(Meiji Yasuda Life Insurance), Kouichi Tanaka (Meiji Yasuda Life Insurance), Junichi Hamada(Meiji Yasuda Life Insurance), Akira Arai (Meiji Yasuda Life Insurance), Narikazu Echigoya(Meiji Yasuda Life Insurance), Kentaro Sekiguchi (Aon Group Japan) and Yosuke Fujisawa(Sumitomo Life Insurance), Kaoru Shiojima (Aioi Nissay Dowa Insurance), Takuro Aoki (Sompo
Japan Insurance), Shuhei Hotta (Mitsui Sumitomo Insurance) were sent to the University.
(G5) On May 14, 2022, a career support seminar was held at Waseda University Graduate School of
Accountancy for undergraduate and graduate students who are interested in actuaries, and Yuzo
Tomimura (general secretary) was dispatched as a lecturer as part of academic activities.
(G6) On June 9, 2022, career guidance was held online at Kansai University Faculty of Engineering
Science, Department of Mathematics to introduce actuaries to third-year undergraduate students,
and Yosuke Fujii (Kansai Committee) was dispatched as a lecturer as part of academic activities.

[H. Related to Presentation of Awards](H1) Awards presented to a person with outstanding results in the 2021 qualification examination① Presentation of President Award
The IAJ presented the President Award to Ritaro Ito (PwC Aarata LLC).
② Presentation of award for outstanding results for each subject
The IAJ presented an award to 1 person for Mathematics, 1 persons for Life insurance
mathematics, 1 person for Non- life insurance mathematics, 1 person for Pension mathematics,
1 persons for Accounting, economics, and investment theory, 1 person for Non-life Insurance
1.
(H2) Presentation of awards for outstanding research paper① On November 4, 2022, an award was presented for the following paper at the Annual
Meeting:“ A frequency model with spatio-temporal dependence using to INLA”
Seiichiro Sano ( The Kyoei Fire and Marine Insurance)② On February 17, 2023, awards were presented for the following outstanding IT-related papers
at the IT Annual Meeting:“ Provision of "new value and services" by financial and insurance companies utilizing new
development methods and technologies”(IT Study Group IV)“IT Strategy for Insurance Companies in the New Normal”(IT Study Group V)[I. PR and Publication Activities](I1) PR activities① In August 2022, the "Voices of Successful Examinees" section of the IAJ's website wasrenewed (replacing the introductory members) for the 2022 edition.

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② “Actuary Seminar” primarily for students was held on February 4, 2023. From theperspective of curbing the spread of COVID-19, the seminar was held online and there were
86 participants.
(I2) Cooperative activities of related associations / institutes① The IAJ sponsored the public interest purpose project such as "IMO2023 Japan Games"
organized by the Mathematics Olympic Foundation of Japan (JMO).
② The IAJ was supposed to sponsor the finals of “Suugaku Koshien 2022 (The National MathChampionship)”, a public interest purpose project organized by the mathematics
Certification Institute of Japan (SUKEN), but it was cancelled due to COVID-19.
(I3) Publication of bulletins, etc.
The following bulletins and other publications were published.
① Bulletin
No.75
 Valuation of Property and Casualty Insurance Business by the Real
Options Method
 Early members of the Institute of Actuaries in Japan:
Complementary notes on the 100-year history
 Formalizing Actuarial Mathematics in the Coq Proof Assistant A frequency model with Spatio-Temporal dependence using INLA
 A Study of the risk management of Defined Benefit Plan
 Consideration on the Optimal ESR for the Stock Value Maximization
 A study of Dividend Return Utilizing Health Information② Supplementary volumes of bulletin
No.292“The SOA’s Economic Scenario Generators: A Practical Guide"<Committee on International Relations>
Chapter 1: What Is an Economic Scenario Generator?
Chapter 2: The Need for Economic Scenario Generators
Chapter 3: The Role of ESGs in Satisfying Regulatory Requirements
Chapter 4: Business Applications of ESGs in the Insurance andPension Industries
Chapter 5: What Are the Essential Features of a Good ESG?
Chapter 6: Considerations of Model Specifications and Stylized Facts
Chapter 7: Model Calibration and Parameterization
Chapter 8: Model Validation
Chapter 9: Arbitrage-Free Modeling Considerations
Chapter 10: The Role of Risk-Neutral Scenarios
Chapter 11: Default-Free Interest Rate Models
Chapter 12: Corporate Bond Models
Chapter 13: Equity Index Models
Chapter 14: International Considerations
No.293
Combining regulatory capital requirements among Countries'
Theoretical and practical considerations <Committee on International
Relations> Executive Summary Section 1: Background and Introduction
 Section 2: The purpose of Scalars
 Section 3: Criteria of the Assessment of Scalars
 Section 4: Assessments of Scalar Methodologies
 Section 5: Conclusion

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No.294

Introduction to Climate-Related Scenarios (Translated by IAA Paper)
Executive Summary
1. Introduction to High-Level Climate Pathways
2. Climate-Related Risks and Opportunities
3. Approaches to Risk Analysis
4. Scenarios: Process, Criteria and Analysis
5. Key Challenges
6. Next Steps

No.295<The 61st IT Annual Meeting Report>
 Low-code/No-code Approach to System Construction
 Research on IT Infrastructure that Insurers Should Choose Efficient Use of Overseas Outsourcing of System Development andRisk Management
 Sustainability Initiatives Using IT
 Cooperation System and Human Resource Development to Create
New Services and Improve Customer Experience③ Actuary Journal
No.119No.120No.121
No.122
Special Edition<Risks andInsurance
No.19>

 2021 The 6th regular meeting ASTIN Bulletin Abstracts (Translated by ASTIN related Study
Group)
 2021 Report on Activities of AFIR related study group 2021 Report on Activities of Kansai Committee’s Sub-committees
 2021 Report on Moonlight Seminar 2021 CERA qualified person(s) 2021 accomplished members for CPD objectives
 2021 applicants who passed the qualified examination
 Actuaries’ relay talks (Series Part.20)
 APRIA 26th annual conference Report of Participation
 2021 Continuing Professional Development / CPD units
achievement report 2022 Name lists of committees, study groups, working groups,
project teams
 Actuaries’ relay talks (Series Part.21)
 The Bulletin of the Institute of Actuaries of Japan :A Walk ThroughHistory
 Actuaries’ relay talks (Series Part.22)
 2022 Actuary Seminar report (PR Committee Actuary seminar Subcommittee, Kansai Committee)
 Actuaries’ relay talks (Series Part.23)<Special Contribution> The Dynamism of the Life Insurance System: Lessons from 140
Years of Life Insurance
 <Lecture>Insurance in Behavioral Economics: Focusing on theCommunity Mechanism Perspective
 <Paper>Factor Analysis of Regional Mortality Disparities Using
Improved SVR Sensitivity Analysis Method④ 2022 Qualification Examination Question Collection⑤ 2022 Annual Meeting Report Collection ( Held in hybrid format of in-person and on-line)(I4) Revision of PR brochure15

In May 2022, the IAJ PR brochure was renewed including a breakdown of the number ofindividual members by business type and annual changes, and an updated list of corporate
members.

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